155
155
Dec 4, 2012
12/12
by
CNBC
tv
eye 155
favorite 0
quote 0
and i think opec has apparently been able to manage that but i think on its own, opec is unable to maintain that price if there are real pressures on the demand side. so i think the fact that we've had relative stability around 100, 110 dollars brent is a testimony not only for opec's ability to manage the price, which sink marginal, but a confluence of interests at the moment between both producers and suppliers that this meets somewhere fairly in the middle. >> peter, we've been fairly volatile. a lot of that's down it tto the o geopolitics. and i assume that's the wide card still into 2013. >> iran will be feeling vulnerable. the fact is that over the last few months, it is now producing less than iraq and i think that will increase the feeling of sensitivity on the part of iran. highlighted the threat of instability because it really hasn't got the influence of volume control, so it has to be three more public statements and issues like that. and it tends to put things in the market when there is need for a proos supporice support. >> all right. thanks for that, peter. swiss government
and i think opec has apparently been able to manage that but i think on its own, opec is unable to maintain that price if there are real pressures on the demand side. so i think the fact that we've had relative stability around 100, 110 dollars brent is a testimony not only for opec's ability to manage the price, which sink marginal, but a confluence of interests at the moment between both producers and suppliers that this meets somewhere fairly in the middle. >> peter, we've been fairly...
220
220
Dec 12, 2012
12/12
by
CNBC
tv
eye 220
favorite 0
quote 0
tensions run high at the opec meeting. the eoe says there must be a response to the oil market that's oversupplied: >> we're, of course, concerned that there will be a certain level of overproduction over the next 18 month or so if the production continues. >>> italy likely to see a strong uptick at the first bond auction after mario monti announced his intention to step down. >>> the international community blast north korea after it successfully launches a long-range rocket prompting an emergency u.n. security council meeting. >>> employment numbers out of the u.k. look strongerment remembe-- stronger. we thought there might be wider unemployment it fall. the claiming count actually down 3,000. the polls forecasting the number of people claiming unemployment benefits to rise. the jobless number down by 82,000 in the last three months through october. the rate 7.8. the employment up by another 40,000 to 29.601 million. the yen another highest on record. still no pressure from wages, average weekly earnings 1.8%. the annua
tensions run high at the opec meeting. the eoe says there must be a response to the oil market that's oversupplied: >> we're, of course, concerned that there will be a certain level of overproduction over the next 18 month or so if the production continues. >>> italy likely to see a strong uptick at the first bond auction after mario monti announced his intention to step down. >>> the international community blast north korea after it successfully launches a long-range...
253
253
Dec 13, 2012
12/12
by
CNBC
tv
eye 253
favorite 0
quote 0
. >> and in just the last few minutes, the opec secretary said he doesn't see any threat from u.s. shale product, this after the uae minister has suggested a response from the oil ministers in vienna. gary ross, welcome. >> nice to be here. >> the shale revolution in the u.s., is it a game changer as much as we're hearing from jamie dimon, arcelormittal? do you think this is going to make the u.s. energy independent, almost? >> well, we think it is. it's huge. we've statemented about 11110 billion pounds of recovery oil from shale crude. u.s. product will be going up overall, about a million barrels a day in 2013. about 65% of it will be shale crude. and it will continue to grow. >> people should understand we're not just talking about gas. we're talking about methods that's right.extract more oil. gas is clearly surplus. we're going to have l&g exports in the united states. we have a long-term growth phenomenon for natural gas. what people don't realize is how huge the oil is. when we talk about $110 billion of recovered oil, that's on 7.5% recovery rate. the resource itself is hu
. >> and in just the last few minutes, the opec secretary said he doesn't see any threat from u.s. shale product, this after the uae minister has suggested a response from the oil ministers in vienna. gary ross, welcome. >> nice to be here. >> the shale revolution in the u.s., is it a game changer as much as we're hearing from jamie dimon, arcelormittal? do you think this is going to make the u.s. energy independent, almost? >> well, we think it is. it's huge. we've...
215
215
Dec 12, 2012
12/12
by
CNBC
tv
eye 215
favorite 0
quote 1
. >> opec and the fed, hey, u.s. production up. let's go to sharon epperson at the nymex. >> oil has really been on the move since the open a few minutes ago. not so much opec, which still packed with the current quota around 30 million barrels per day, it is producing more than that. but we are hearing, of course, from opec itself that saudi arabia has reduced its production in november to the lowest level in a year. so that seems to be a way that they will adhere closer to the current quota. we're also looking at the latest report from the international energy agency which may have more of an impact where oil prices are going in this session. they're looking for slightly demand in 2013. and they're pointing to china for the reason. we're anticipating we'll get the report from the energy department at 10:30 a.m. on oil supplies. the expectation is for a slight decline in food supplies. but we did see a major build in the industry report, if that is confirmed we could see these gains short-lived. back to you. >> all right. thank yo
. >> opec and the fed, hey, u.s. production up. let's go to sharon epperson at the nymex. >> oil has really been on the move since the open a few minutes ago. not so much opec, which still packed with the current quota around 30 million barrels per day, it is producing more than that. but we are hearing, of course, from opec itself that saudi arabia has reduced its production in november to the lowest level in a year. so that seems to be a way that they will adhere closer to the...